Spirit Airlines is preparing to cease operations after the beleaguered company ran out of cash and a rescue attempt by the Trump administration appeared to stall.
The company struggled to make a deal with its creditors and secure funding to maintain operations, according to a Wall Street Journal report citing people familiar with the matter.
We are #1 at razor thin margins that implode instantly when literally anything somewhat serious goes wrong.
Usually also via leveraged debt keeping all the financial gears turning.